• Industry: Financial Services, Insurance
  • Type: Business and industry issue, Event
  • Date: 6/19/2014

Transforming Insurance 

At KPMG we have been exploring what the future might look like as the industry embraces digital technologies and starts to harness the full value of the vast amounts of data now available to it.

“Over half of the respondents we surveyed predict that digital distribution and servicing will surpass traditional channels within the next 5 years – buckle up for a fast ride.”

Mary Trussell, Innovation and High Growth Markets Lead, KPMG in the Canada

Transforming Insurance: Securing competitive advantage, delivers a vivid picture of the global insurance landscape, as market players respond to the changes that are transforming all aspects of their business. Based on research and interviews with insurance leaders globally, the report reveals five inter-related issues insurers and intermediaries are facing, how to:

  1. Operate in an increasingly digital world
  2. Make the best use of the vast amounts data now available
  3. Tame the challenge of legacy systems
  4. Keep the business secure given increased cyber threats
  5. Attract and retain the people needed to drive the change this implies

Technology can help players in insurance markets meet these challenges and transform their capacity to identify trends, collaborate, rapidly respond, adapt and thrive.

Transforming Insurance is the third publication in KPMG’s Future of Insurance series starting in 2012 with the release of the Intelligent Insurer, an exploration of the mega trends impacting the industry. Followed in 2013 by the Valued Insurer which examines the key attributes of successful insurers with a specific focus on customer

To our contributors

We would like to thank everyone who completed our global survey for your candid views, and to our KPMG contributors and opinion formers for your pragmatic advice on how insurers can respond to the digital evolution, harness the rich data sources now available, mitigate cyber risks and address legacy systems to gain competitive advantage.

Mary Trussell

Global Insurance Innovation and High Growth Markets Lead,
KPMG in Canada


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